NEW YORK, March 17, 2023 /PRNewswire/ — The global gifts retailing market size is estimated to grow by USD 13,491.69 million from 2022 to 2027 according to Technavio. The market is estimated to grow at a CAGR of 3.01% during the forecast period, and the growth momentum will accelerate. The rise in demand for specialized merchandise for gifting is a key trend in the market. The demand for gift, novelty, and souvenir retailers is high. Specialty gift stores sell gift items that are crafted by local artisans, which leads to a high degree of product differentiation. This, in turn, boosts the demand for specialized merchandise in the premium segment. Souvenir and gift retailers also act as distributors of specialty merchandise. For instance, The Walt Disney Co. engages in the retail and wholesale distribution of products through the Disney Store. These factors are expected to support market growth during the forecast period. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
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Gifts retailing market – Segmentation assessment
Technavio has segmented the market based on distribution channel (offline and online) and product (souvenirs and novelty items, seasonal decorations, greeting cards, giftware, and other gift items).
- The offline segment will account for a significant share of the market growth during the forecast period. This segment includes specialty retail stores, hypermarkets, supermarkets, convenience stores, department stores, and other retail formats. Vendors that offer gift products are expanding their store operations at different locations. Extensive…